Oregon § 70.340 Distribution of assets

Oregon Statutes

§ 70.340 — Distribution of assets

Oregon § 70.340

Vol.2

Title 7Corporations and Partnerships

Ch. 70Limited Partnerships

This text of Oregon § 70.340 (Distribution of assets) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 70.340 (2026).

Text

Upon the winding up of a limited partnership, the assets shall be distributed as follows:

(1)To the extent permitted by law, to creditors, including partners who are creditors, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under ORS 70.250 or 70.260.

(2)Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under ORS 70.250 or 70.260.

(3)Except as provided in the partnership agreement, to partners as follows:

(a)First, for the return of their contributions; and

(b)Secondly, respecting their partnership interests, in the proportions in which the partners share in distributions.

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Upon the winding up of a limited partnership, the assets shall be distributed as follows:
(1) To the extent permitted by law, to creditors, including partners who are creditors, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under ORS 70.250 or 70.260.
(2) Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under ORS 70.250 or 70.260.
(3) Except as provided in the partnership agreement, to partners as follows:
(a) First, for the return of their contributions; and
(b) Secondly, respecting their partnership interests, in the proportions in which the partners share in distributions.